Things change so fast within the current economic climate that you have to keep a very watchful eye on trends and shifts within the market.  

According to the US Conference of Mayors, businesses are hiring in New Jersey. Actually good workers and good laborers seem to be at a premium. Minimum wage isn’t good enough anymore; many jobs start at $12 or $13 an hour.

According to a recent story in the Asbury Park Press, “New Jersey employers are recruiting aggressively to fill job openings, but clouds are beginning to build, which could force them to temper their enthusiasm, a new economic report shows.”

New Jersey is catching the crest of the economic wave during this current business cycle. According to the US Bureau of Labor Statistics, New Jersey added nearly 60,000 jobs in 2017. This ranks New Jersey as 18th nationwide, with a 1.4% growth rate in the employment numbers.

What is even more helpful is that there are certain pockets within New Jersey’s real estate market that offer individuals some bargains when it comes to purchasing a home.

Atlantic City, which as of a few years ago was in the throes of an economic recession and cloud of foreclosures, appears to be one of the most affordable places in the country to buy a home, with a median home price of $229,000.

Slowly, but surely, New Jersey is eating through its foreclosure inventory and we are seeing numbers in the Days on Market that are in some cases under 60 days from listing to close.

According to Zillow, the median home value in Atlantic City is roughly $80,000; this is a 40% Improvement from 2016. Depending upon how well the revitalization of Atlantic City goes, this could be the next Brooklyn for New Jersey residents looking to cash in on a good deal.